Type | Name | Code | Description |
---|---|---|---|
Dependent Variables | CSR | CSR | (Donation + Sponsorship Fee + Funds + Environmental Expenditure + Cash Paid to Employee and for Employee + Dividend and Interest Paid in Cash + Prime Operating Cost + Actual Paid Taxes) / Prime Operating Revenue |
Society Orientation | SOCO | (Donation + Sponsorship Fee + Funds + Environmental Expenditure)*10,000 / Prime Operating Revenue | |
Employee Orientation | EMPO | Cash Paid to Employee and for Employee / Prime Operating Revenue | |
Investor Orientation | INVO | Dividend and Interest Paid in Cash / Prime Operating Revenue | |
Customer Orientation | CUSO | Prime Operating Cost/ Prime Operating Revenue | |
Government Orientation | GOVO | Actual Paid Taxes/ Prime Operating Revenue | |
Independent Variables | Political Connection | POLC | If chairman of the board or general manager is or had been government official, NPC delegates, CPPCC delegates, Party Congress delegates, et al., POLC equals to 1. If not, POLC equals to 0. |
Control Variables | Company Scale | SIZE | Log (Total Asset) |
Financial Efficiency | ROA | ROA | |
Duality | DUAL | If the general manager and chairman is one person, DUAL equals to 1. If not, Dual equals to 0. | |
Company Growth | GROW | The growth rate of main operation income | |
Fixed Asset Ratio | FIX | Fix Asset/ Total Asset | |
Year | YEAR | 7 year, Dummy Variable | |
Industry | IND | 15 industries, according to CSRC’s industry classification standard (2012) |